Bitcoin Technical Analysis : BTC/USD 11 January 2021

11 January 2021 Analysis (Forex, CFDs, Cryptocurrency)Bitcoin (BTC)BTC/USD (Bitcoin)

Bitcoin Technical Analysis : BTC/USD 11 January 2021

Bitcoin Technical Analysis : BTCUSD

Date : 11 January 2021

Pivot point : 35517

Our preference : the downside prevails as long as 35517 is resistance.

Alternative scenario : the upside breakout of 35517, would call for 36359 and 36860.

Comment : the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 36742 and 38454).

Supports and resistances :

36860 **
36359 *
35517
33870 – Last price
32566
32084 *
31602 **

Warning : This information isn’t a buy-sell signal. Please use this information for the trade guideline.

Source : Trading Central

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